Shoprite share price leaps by 11.3% in a day

Shares in Shoprite - Africa’s largest retailer – leapt by 11.3% on Wednesday to their highest level since July 2013, making it the JSE’s best performing stock on the day.

The Money Show’s Bruce Whitfield interviewed Chris Steward, Portfolio Manager at Investec Asset Management.

Scroll down for quotes from the audio below.

Shoprite reported a very strong performance in their non-South African operations.

Chris Steward, Investec Asset Management

The consensus view is that interest rate hikes are done. That’s good for the domestic consumer.

Chris Steward, Investec Asset Management

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Article brought to us by Old Mutual.

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